July 21, 2021: Hey, ready for some influencer marketing news? There’s a lot, so let’s go!
In today’s edition:
- TikTok tops 3 Billion Installs
- TikTok Focuses on Branded Content
- Facebook invests $1 billion in creators
TikTok Reaches 3 Billion Downloads
The Story
TikTok is the first Non-Facebook owned App to achieve 3 Billion Installs.
Can’t stop, won’t stop
According to SensorTower, when including the Chinese version of the app, called Douyin, TikTok broke records previously set by Facebook-owned apps. TikTok was the most downloaded and highest-grossing non-gaming app globally in the first half of 2021. It reached roughly 383 million first-time installs and an estimated $919.2 million in consumer spending.
Let’s not forget that TikTok was able to accomplish this feat even though it lost its second-biggest user market in the middle of 2020 due to Indian government bans.
What else has TikTok been up to?
TikTok didn’t reach 3 Billion Installs by staying still! Here is a quick list of what else they’ve been working on in the past few weeks:
- For the month of July, TikTok is running ‘TikTok Unplugged,’ which are free business info sessions where the app will share its secrets to success for marketing on TikTok
- TikTok releases a Cameo-copycat, called Shoutouts, where users can pay for personalized videos from their favorite creators
- TikTok launches TikTok Resumes where users can upload video resumes to showcase their experiences as they seek job opportunities
- TikTok is opening their first ‘For You House,’ a pop-up store in the UK where fans can interact with other creators and create content
- TikTok is hosting a “Small Biz Block Party,” a free 20-event workshop series for small business owners to to learn tools and tactics to help them grow their business
STC POV
The numbers speak for themselves, TikTok is taking over. I mean, we predicted that TikTok will eclipse Instagram as the number one social network for influencer marketing in 2021 (see our other predictions here). One of the many aspects that sets TikTok apart is the ability to take a dedicated audience and leverage that audience to secure brand sponsorships. However, one (big) thing that Facebook and Instagram is rolling out that TikTok hasn’t yet is a pure monetization and ad revenue sharing play (a la YouTube). Facebook/Instagram are rolling out monetization tools and funds that offer a larger reach and income potential for creators, to attract their time and attention (and their audiences). Yet TikTok is still creator-first, and we’re hoping to see more monetization and ad-revenue sharing tools for creators in the near future. .
Will TikTok be able to fully overtake Facebook’s rule? We think so. We’re not sure when, but they’re certainly on their way.
TikTok Dives Deeper into Branded Content Changes
The Story
TikTok further explained how the changes to their branded content policy affects creators.
Now what?
TikTok is rolling out a Branded Content Toggle to make it easier for creators to disclose if their post is branded content. For example, if a creator puts #ad in the description of their video, a pop-up will appear prompting the creator to turn the toggle on if they haven’t already. This feature is currently available to users with over 10k followers in select regions, but will eventually roll out globally to all users.
Recap
As previously mentioned, there is a long list of globally prohibited industries that can’t promote on TikTok via branded content. However, these industries can promote via paid ads. TikTok mentioned that they plan to expand the availability of this branded content toggle in an effort to keep the TikTok community safe and informed.
STC POV
As TikTok matures and evolves, it’s a natural progression that it’s making new products and features for brands. Brands on TikTok adapt to the new safety measures being put into place, or you risk getting your content removed. These are much needed updates necessary to keep users (especially younger users) safe. As a brand, it’s important to know the new guidelines and abide by them. This space will continue to evolve, so stay vigilant for rules in your category.
Facebook Creates $1 Billion Creator Fund
The Story
Facebook announced a $1 Billion investment in programs where creators can monetize their content.
Tell me more.
Remember the monetization tools we referenced earlier? The Facebook news starts with “Bonuses,” a feature on Facebook where creators will be rewarded for sharing quality content that performs well. The bonuses that are already available are invitation-only. Facebook currently offers the following:
- In-Stream bonus: earnings over the next four months to select video creators using in-stream ads
- Stars bonus: the expansion of the Stars Challenges program to include select gaming creators. Over the next three months, these creators will receive a monthly bonus for hitting Stars milestones.
Don’t worry, Instagram is getting in on the fun too.
Instagram also currently has bonus options available:
- The IGTV ads bonus is currently available to U.S. creators and allows them to earn a one-time bonus for signing up for IGTV ads where they can earn a share of revenue when ads run during their videos
- The badges in Live bonus are also currently available to creators in 11 countries and reward creators when they meet certain badge milestones
- The Reels Summer bonus, launching in the coming weeks to U.S. creators, will pay creators for creating Reels content
STC POV
Facebook is finally going after creators! It’s about time. Monetization is the best way to appeal to creators, and $1 Billion isn’t too shabby. Facebook is doing anything they can to stay relevant and compete with the likes of TikTok. Hopefully it’s not too little, too late. The creator economy is growing at lightning speed, and Facebook clearly doesn’t want to miss out. This is surely just the start, and we’ll be peeled for more updates to come.
